If there’s one thing you want your startup’s workplace to be, it’s efficient. Putting out quality work without depleting your resources, whether time, money, or your team, is integral to building a flourishing company.
For those entrepreneurs looking for ways to fuel workplace efficiency in their startups, look no further than your use of goals. SMART goals, in particular, can enhance workplace efficiency and keep your startup on the path to thriving long-term.
Continue reading to learn more about the importance of setting goals for startups, the concept of SMART goals, and how to use them to elevate workplace efficiency.
Successful Businesses Set Goals
A startup with no direction won’t survive in today’s ever-changing business landscape. You need to know where you’re going and how you’ll get there. That’s what goals help you define.
Successful businesses set goals because they help solidify their visions. You know where you want to end up and can create the best plan for getting there. You can use goals to inform the decisions you make in your business to ensure you’re progressing and maximizing productivity.
Also, business goals keep your team aligned. Everyone’s working together toward the same things, resulting in maximum productivity. As a result, you can complete projects efficiently and continuously progress toward your goals.
What is the SMART Goal Framework?
As vital as goal-setting is to a successful business, you can’t approach it any old way. Your goals need to be more than vague hopes and dreams for your startup if you want to improve.
Instead, they should be measurable and realistic for your startup to achieve. Goals should also be structured and detailed to make them real and attainable. This is where SMART goals can help. SMART is an acronym that stands for:
- S-specific
- M-measurable
- A-achievable
- R-relevant
- T-timebound
There’s a list of criteria to cover before you can deem your goal SMART. That level of comprehensiveness ensures that you’re working productively toward what’s most important in your business.
Let’s expand on each letter of the SMART goal framework to put everything into perspective.
S-Specific
It’s difficult to achieve a vague goal like, “build a strong brand” because that could look like so many things. You just end up trying everything until something sticks, wasting a lot of time, effort, and resources.
Vague goals don’t include the details needed to create actionable plans for achieving your goals. SMART goals, on the other hand, are specific. And that’s incredibly helpful because you define exactly what you want to accomplish, how, when, where, and who’s involved in the process.
The first step is identifying the goal you want to achieve to the best of your ability, much like we did above with “Build a strong brand.”
Once you define what you want to accomplish to some degree, start fleshing out what this looks like to make it more specific.
Keeping with the example above, a strong brand has a definitive brand identity with a distinct personality, look, and tone. It also produces high-quality content for and engages with its audience consistently on various marketing channels.
Now, you’re more clear on what a strong brand looks like and have an idea of how you’ll achieve it. It’s also essential to specify who will be involved in working on your goal, where you’ll work on it, and what the deadline is for achieving it.
All of your goal’s details don’t have to be perfect in this step of the SMART goal process. But putting as many out there on the table as possible will help you develop the best action plan.
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M-Measurable
Your goal doesn’t mean much if you can’t measure whether you’re making progress toward or have accomplished it. It’s essential to use metrics to signify that you’re moving in the right direction and to show you’ve reached your goal.
Let’s continue with the sample goal above. Your goal is to build a stronger brand by refining your brand identity and publishing more high-quality content. When will you know you’re done with both of these things and how will you know if they’re working?
Your updated brand identity could be complete when you finish your new logo and brand guidelines. To determine if your brand identity revamp is working, you could say you want to see a 5% increase in organic traffic to your website.
Your goal to publish more high-quality content could be complete once you’ve launched two new campaigns for each of your marketing channels. You could deem your efforts successful if comments, likes, and shares of your content increase by 7%.
Establish a schedule for when you’ll check progress too. If things aren’t working, you want to pivot as quickly as possible to what is. You can only do that if you’re actively checking your metrics.
How often you check them depends on the goal. For example, if your goal has many moving parts, it may be best to check progress weekly to keep things organized. If you have a goal that will take 6 months to achieve but isn’t as complex, a monthly progress check might be suitable. Tailor your timeline to your goal.
A-Achievable
As important as it is to set goals that challenge your team, they can’t be so far off in the distance that they can’t see themselves achieving them. Everyone will be less likely to put in all of their effort because it’s unlikely for the goal to come to life.
Not only that, but putting together an actionable plan for a goal that isn’t fit for your team’s ability, time, and resources is frustrating, if doable at all.
You must ensure your goal is something your team can actually achieve. You can be ambitious. But don’t be so ambitious that it’s discouraging.
For example, expecting a 50% increase in organic traffic to your website after an update to your brand identity isn’t realistic. But a 5% increase is. Your team may not be able to produce the amount of quality content it takes to increase engagement by 20%. But they may be able to achieve a 7% increase.
As you start working on your goals, you may find they’re out of reach for your team. Don’t be afraid to adjust them as you learn more about the resources you have, your team’s ability, and how they function in the workplace.
R-Relevant
This part of the process requires genuine honesty because you could argue that any goal is relevant to your business if you wanted to — but understand that achieving a goal doesn’t mean it will be impactful for your business, and working on any old goal won’t fuel workplace efficiency.
Your goal must be relevant to your team so that they’re encouraged to put their best foot forward and work toward it collectively in the most efficient way. This goal should also align with the overall company goals and company vision.
Continuing with our goal of wanting to build a strong brand in the ways mentioned above, answer the following questions about it:
- Why does this goal matter to my team?
- Why is this goal important to my startup?
- How will this goal move us closer to the overarching company goals?
If you don’t have definitive answers to these questions, your goal may not be as relevant as it needs to be.
T-Timebound
You’ve done a lot of work thus far to create a goal that’s specific, measurable, achievable, and relevant. But if there’s no timeline for achieving it, you might as well be dead in the water. This is because you’re chances of reaching the goal go way down when there’s no deadline attached to it.
It’s easier to keep putting things off when you aren’t bound to a timeline. You’ll just achieve the goal whenever you achieve it. And that does nothing for a startup trying to grow and establish itself as one of the top in its industry.
Your goal needs to have a specific deadline. That sense of urgency will keep your team motivated and accountable. The deadline also helps you develop a timeline with important checkpoints to ensure you’re progressing as you should.
With our sample goal, building a strong brand might be a continuous project. However, you can decide when you’ll complete refining your brand identity and publishing high-quality content. So, determine when you will have these things accomplished.
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Here’s an example of SMART Goals All Put Together
As you can see, you cover a lot of details when crafting a SMART goal. Still, you can condense everything into a few sentences so that your SMART goal is easily understandable. Here’s the SMART goal we worked on above all put together:
To build a strong brand, we will increase organic traffic to our website by 5% and engagement with our content by 7%. To make this happen, our team will create two high-quality content campaigns for each marketing channel and refine our brand identity.
A comprehensive goal like this gives your team much more direction than a vague goal like “build a strong brand through marketing.” They know what you’re hoping to achieve and how. Your goal is more easily turned into an actionable plan with the SMART goal framework.
Final Thoughts on How to Master SMART Goals
Your startup’s success depends so much on how efficient your workplace is. Disorganization and silos will surely take your startup down. Conversely, a team that works well together with a unified purpose can elevate an operation. Set SMART goals to keep your team on the same page and working diligently on what will elevate your business.
Growth Hackers is an award-winning growth hacking company helping businesses from all over the world grow. There is no fluff with Growth Hackers. We help entrepreneurs and business owners master SMART goals to fuel workplace efficiency for startups, increase their productivity, generate qualified leads, optimize their conversion rate, gather and analyze data analytics, acquire and retain users and increase sales. We go further than brand awareness and exposure. We make sure that the strategies we implement move the needle so your business grow, strive and succeed. If you too want your business to reach new heights, contact Growth Hackers today so we can discuss about your brand and create a custom growth plan for you. You’re just one click away to skyrocket your business.
